London (January 25, 2024) LaSalle Investment Management, the global real estate investment manager acting on behalf of Malaysian investor Permodalan Nasional Berhad (PNB), has selected Multiplex Construction Europe Limited (Multiplex) as the main contractor for the construction of One Exchange Square, a state-of-the-art 447,000 square foot office development at Broadgate Campus in the City of London. M3 Consulting are acting as the Development Manager for the project.
Designed by Fletcher Priest Architects, the 13-story scheme to be delivered by Multiplex will comprise 430,000 square feet of premium workspace and 17,000 square feet of retail, fronting both Bishopsgate and the newly re-landscaped park at Exchange Square. With 13 upper floors and floorplates averaging 40,000 square feet, the building features landscaped terraces on every floor, totalling 33,000 square feet across the building. In addition to boasting a striking feature reception and 8,000 square feet amenity lounge, One Exchange Square benefits from outstanding transport connections and a diverse array of amenities, conveniently situated just a one-minute walk from Liverpool Street Station and surrounded by vibrant locations such as Broadgate Campus, Spitalfields, Shoreditch and the City of London.
Scheduled for completion in Q1 2026. One Exchange Square is envisioned as an office of the future, designed to meet tenants’ high sustainability and wellness demands. It is targeting exemplary environmental credentials, including a BREEAM Outstanding rating, NABERS 5* and Well Platinum. By retaining 90% of the existing structure, the asset will have 50% lower embodied carbon than a typical new build office of comparable size, saving approximately 7,600 tonnes of CO2e compared to the GLA 2030 target. The project is 100% electric, using intelligent façade design and mechanical services twinned with building management systems to manage operational energy use.
Gary Moore, Head of International Accounts, Europe, LaSalle Investment Management commented: “Once completed, One Exchange Square will be a truly landmark office development in London. It will boast top-notch environmental performance ratings in a conveniently central location, and is poised to be highly sought after for years to come. We are excited to work with Multiplex on its development and construction, integrating state-of-the-art design and sustainability features to cater to the needs of its future tenants.”
Callum Tuckett, Managing Director at Multiplex, said: “We are incredibly proud to have been selected by LaSalle and PNB to transform this key building in the Broadgate campus and the City of London. We look forward to working with our development partners and all the professional teams to deliver a contemporary and highly sustainable building that will have a positive impact not just on its occupiers but on the surrounding areas of Bishopsgate and Exchange Square.”
Trowers & Hamlins LLP advised on property, planning, procurement and construction legals. The construction team was led by partner James Huckstep and assisted by Nicola Conway and Natasha Kaulsay.
JLL and Cushman and Wakefield are advising on the repositioning and leasing of the project.
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LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately US $89 billion of assets in private and public real estate property and debt investments as of Q3 2023. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles, including separate accounts, open- and closed-end funds, public securities and entity-level investments.
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